“Don’t panic but get ready for ‘No deal Brexit'”

The Minister of Economy of Belgium, Chris Peters, calls on the business to prepare for a possible tough Brexit and to the possibility of the United States stopping its close economic ties with the EU, as well as the likelihood that the bloc will not be able to conclude a deal with the UK.

In September the Belgian economy will undergo a scan to establish the impact of a hard Brexit business by business. Mr Peeters has spoken with Michel Barnier, who is leading talks on the UK’s exit from the bloc on behalf of the EU. He also met with the members of the Belgian Brexit High Level Group that includes representatives of business. Mr Peeters is eager to take additional measures to get Belgian business in shape for a hard Brexit and its impact. Business should also prepare for a no deal scenario when the UK leaves the bloc without any deal.

Kris Peeters: “The potential ramifications for our economy are great. A heard Brexit can still be averted, but we want businesses to be more alert, while not panicking. ”

In September Belgian businesses will be able to undergo an impact scan tailored to their individual business. Businesses are asked to fill in a questionnaire mapping out the exact impact of Brexit on their activities. The economy minister will also publish a website with all the relevant information about Brexit for businesses.

Count Paul Buysse, who heads the Belgian Brexit High Level Group: “Concern is growing around the table. The challenge is to prepare our businesses as best as possible and to cushion the blow. We must be extremely cautious because everybody will lose.”

The author: Michel THEYS

Michel Theys, a Belgian native, began his career as a civil servant, serving the public for several decades. After retirement, he shifted gears to follow his passion for journalism. With a background in public administration, Theys brought a unique perspective to his reporting. His insightful articles, covering a wide array of topics, swiftly gained recognition. Today, Michel Theys is a respected journalist known for his balanced and thoughtful reporting in the Belgian media landscape.

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